David J. Stockton, former chief economist at the Federal Reserve Board, presented the outlook for the US economy at the October 1, 2013 session of the Peterson Institute's semiannual Global Economic Prospects series. Nicholas R. Lardy assessed China's indigenous slowdown, and Arvind Subramanian addressed the challenges for emerging markets from the reversal of capital inflows and the resulting exchange rate weakness. Subramanian also addressed the Indian crisis specifically, where his proposals for policy response are prominent in the public debate.